Average Home's Tax Will Go Up $186 In FY '13

Based on a projected 2.5% property tax increase, average single family home tax in 2013 would be $7,538.

Lynnfield residents will see a 2.5% property tax increase in the coming fiscal year, in part because average home values remain down.

The average single family home in Lynnfield (3,817 of them) would pay $7,538 in property taxes in FY 2013, according to figures provided to local media at the last selectmen's meeting. This would be an average tax increase of $186, at a rate of $14.82 per $1,000 in assessed value.

A report from the board of assessors during the meeting noted that residential values were down about 1.8% in town over the last year, while commercial values were up about 2.6%. Town statistics indicate an average single family home value of $508,761 in Lynnfield in FY13.

Commercial, Industrial, Personal Property

The town's commercial, industrial and personal property (CIP) tax payers will also see a 2.5% tax increase, averaging out to about $519 each. The average CIP tax comes out to $21,170 in FY13, based on an average property value of $1,300,026. The CIP tax rate would be $16.28 per $1,000 in assessed value.

CIP in Lynnfield in FY13 accounts for less than 10% of town properties - or more specifically, 9.2%. This figure bottomed out at 6.7% back in 2007, according to town statistics, but back in 2000 and 2001, it was actually at 9.1%.

pamela boucher November 29, 2012 at 12:29 PM
i don't think property taxes should go up at all if the property is upside down ok
marc bowlen November 29, 2012 at 03:27 PM
this is another example of these gangs that run government, 1st of all the will of the people is not being heard, they are against the raising of property taxes, yet the shylocks in government continue to violate people's rights, 2nd under mass general law 59 section 12 in regards to mortgaged real estate, the banks are supposed to pay the taxes for there share of the estate interest in the property, meaning the person paying the mortgage is responsible for the equity they have in the property, the assesor shall tax the bank 1st for the estate interest, then tax us for our estate interest which is our equity in the property, which is based on the value of the property! This is fraud by the banks and the assesors as well as the attorney's who represented us at closings, for more info go to youtube pro se usa or subscribe to AmicusTerra2Humanus YouTube channel and learn about the fraud in mortgaged real estate by the banks and the assesors!
Joan R. November 29, 2012 at 07:27 PM
This is so ridiculous. I've lived in the town now 4 years & the taxes have gone up every year since I've been there. What about that Lynnfield Market Place, won't the Market place help in this situation? That our property taxes won't go up?? Seems to me the money is going into someone's pockets. I agree with Mr. Bowlen, total fraud. Homeowners are getting screwed, again. Why should the taxes go up, if the property isn't? Doesn't make any sense.
Steve November 29, 2012 at 10:19 PM
Home values declining in itself shouldn't necessitate an increase in overall payment unless: 1. The tax base is declining or 2. Town expenses are up. If home values are declining, I can see why the tax rate should go up slightly to compensate but the overall payment should be relatively the same unless there's a significant shortfall in the tax base or if town expenses are up. Any idea why the rate and the amount is projected to go up?


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »